Forex Signal Trading – is it a good idea? Or do we need to avoid it? If you raise this question in any of the Forex related forum, you will find some people who are talking in favor of it and some others will stand against it. While both parties have their own arguments, but that will make you more and more confused!
What if you ask me that question? Well, I know both the advantages and disadvantages of Forex Signal Trading. But I will take a stand. I will go in favor of trading with signals. I have my reasons to believe that this is better; let me explain that in this article.
Let’s clear out this concept at first! Forex Signals are basically a Forex trading suggestions provided by one trader to another. The Expert and experienced traders know in what market situation, what you have to make. That’s why the novice traders seek Signals from experts. Signal contains a set of information.
All the signal trader has to do is to trade according to the information. That is what we call Forex Signal Trading.
That is the question asked by majority of the traders every now and then. If your system is that good, you can make huge money with your system, then why are you sharing the signals with other traders?
The answer to this question is very simple? Why not share?
There are millions of Forex Traders trading every day, and more than 80% of them are trading with a definite trading system. Imagine that you have a trading system that generate 80% win ratio or 50% monthly returns with 2% drawdown, and it is being sold in the Forex market with over 1 million potential buyers for $100. That would result in amount of $100,000,000.00. If everyone bought the product or maybe half or less than half of it, it would result in $25,000,000.00 in some months of sales. Can you earn that much money by trading yourself in one month? Perhaps you can, but you need to invest huge money and take huge risk for that. That’s why you would like to sell your system!
Commercializing your Forex trading strategy would give room for critics, which would enable you to redesign a much better system. A newer release or version would normally fix bugs or add more functionality, which would improve trading performance.
Commercializing your Forex system would pay you for the years or months of hard work, costs, and salaries for programmers, and other expenses incurred. It also provides an opportunity for an alternative source of income.
Generally, the cost of getting signal services is quite cheaper depending on the type of signal services solution that is deployed by the provider. You can get benefits every day, by providing a minimum fee.
Most traders prefer Forex signal services to other Forex systems due to the simplicity, cheaper cost, and trust on the provider. The technology involved in signal services makes it easier to reach many clients irrespective of their geographical location. Getting customers or clients is very easy through forums and social platforms.
Trustworthy signal providers usually publish their performance results on their website or on reputable benchmark websites like myfxbook.com for all intending subscribers to scrutinize. Also some providers give daily analysis of their trades before it occurs or after it occurs.
It is very flexible in terms of upgrades, and expansion. More concepts can be introduced as the subscriber base grows or improves. For example: when a subscriber base increases or a particular signal is being subscribed more often, it gives the signal provider an opportunity to increase the fee or break it down to smaller services with additional fees.
Well, there is no unbiased good technology in the world. Forex Signal trading has some drawbacks too. There are some signal scammers out there. They are showing some lucrative advertising and getting clients. But whatever they promise, they can’t keep that. That is because, they are not actually experienced. They are novice traders looking for some extra income besides their trading. Some of them may be Forex losers, trying to get back the loss by stealing other people’s money. You must be very careful about that. Don’t fall in any trap. Good signal services always keep a track record of their works. Look at their records, read the customer reviews, before subscribing to a signal service.
However, you don’t need search right now, because I have got a recommended site for you. The name of the site is Forex Profita. Visit the website of Forex Profita and find out why they are so special and has already got the recognition as the Best Forex Signal Service.
Thanks for your time to this article. Hope it will help you.
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